Freeze Drying Equipment Market: Global Industry Analysis and Forecast (2023-2029)

Freeze Drying Equipment Market is expected to reach USD 2.82 billion by 2029, with a CAGR of 7.5% between 2022 and 2029.

The research gives a comprehensive perspective of the market by combining qualitative and quantitative data. It examines the global Freeze Drying Equipment Market and provides forecasts for the key segments. It also includes market size and forecast estimates for five key regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America, for the years 2023 to 2029. The Freeze Drying Equipment Market is further split into countries and markets within each location.To know about the Research Methodology :- Request Free Sample Report

In the report, 2022 is considered a base year however 2022’s numbers are on the real output of the companies in the market. Special attention is given to 2021 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and a specific strategic analysis of those companies is done in the report.
Freeze Drying Equipment Market Dynamics
The market share of the freeze-drying market is influenced by a number of factors, including the need for freeze-drying of novel biologic medicines and injectable formulations as well as the growing acceptance of the technique for high-value materials that are delicate and brittle. The growth of the freeze-drying technique has been greatly aided by the pharmaceutical business, and this advancement is made possible by a number of crucial factors, such as the expansion of lyophilization contract manufacturing services and investments in R&D projects.

Additionally, as a consequence of changing lifestyles, busy schedules, and increased disposable incomes, consumers are beginning to prefer packaged meals, which is leading to an increase in the usage of freezing drying equipment in the food processing sector. Because they are shielded from moisture, light, and oxygen, freeze-dried products have a longer shelf life and may be stored for prolonged periods of time without losing their quality or texture. However, the stringent standards and laws governing the pharmaceutical and food and beverage industries act as a barrier to the growth of the global freeze-drying market. Additionally, the market's growth is being constrained by freeze-drying technology's high cost.
Freeze Drying Equipment Market Segmentation
By Product, in 2022, commercial freeze dryers dominated the market. They represent about 36.0 percent of total income and are expected to keep their position until 2029. The market for food processing uses the equipment a lot. Additionally, because of its great performance efficiency, it is commonly employed in big businesses. However, because to their mobility, simplicity of use, and multifunctionality, mobile dryers are anticipated to have the highest growth throughout the forecast period.

By Application, during the forecast period, the biotechnology segment is anticipated to have the greatest CAGR. On the other hand, the market for freeze drying equipment worldwide saw the largest share of almost 32.0 percent in the food processing sector in 2022. The procedure is greatly preferred for processing food since it lowers pressure while maintaining product moisture through sublimation. However, due to the increasing use of freeze drying equipment to preserve biologicals including proteins, enzymes, viruses, bacteria, and penicillin, the pharmaceutical industry is likely to overtake it in the future years. Additionally, the market is anticipated to grow during the forecast period as a result of the use of freeze-dried platelet-rich plasma (PRP) in surgical operations, which preserves PRP's effectiveness and bioactivity for a longer length of time.
Freeze Drying Equipment Market Regional Insight
In 2022, Asia Pacific had the largest market share in the global freeze-drying equipment market, and it is expected that this region would keep this position during the forecast period. This is mostly related to the expansion of the food and pharmaceutical industries in the Asia Pacific region. The key drivers of the expansion of the regional market are China and India. Additionally, the market expansion has been propelled by rising investments in industries like healthcare, dairy, food and beverage, and so forth in nations like China and India.

In the United States, the market for freeze drying equipment is anticipated to reach US$ 450 million by 2021. The second-largest economy in the world, China, is anticipated to grow at a CAGR of 11.4 percent from 2023 to 2029 to reach an expected market size of US$ 616.1 million. Japan and Canada are two more notable geographic markets, with growth rates of 4 and 6.7 percent during the 2023–2029 period, respectively. Germany is expected to expand within Europe at a CAGR of around 4.8 percent.

During the same time period, Europe is also anticipated to account for a sizable portion of the industry. The existence of leather tanneries in the region is also expected to contribute to the market's considerable expansion during the projected period, since these goods are also used in tanning process.

Report Objectives:

Landscape analysis of the Freeze Drying Equipment Market
competitive benchmarking
Past and current status of the industry with the forecasted market size and trends
Evaluation of potential key players that include market leaders, followers, and new entrants
Technology trends
The potential impact of micro-economic factors on the market
External and Internal factors affecting the market have been analyzed

The report also helps in understanding the Freeze Drying Equipment Market dynamics, and structure by analyzing the market segments to project the Freeze Drying Equipment Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Freeze Drying Equipment Market make the report investor’s guide.
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Global Freeze Drying Equipment Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 1.69 Bn.


Forecast Period 2023 to 2029 CAGR:
7.5%
Market Size in 2029:
US $ 2.82 Bn.


 Segments Covered:
by Product
Laboratory freeze drying equipment
Benchtop freeze dryers
Mobile freeze dryers
Industrial freeze dryers
General purpose freeze dryers


by Application
Food processing
Pharmaceuticals
Surgical procedures
Biotechnology
Others


by Accessories
Loading & Unloading Systems
Controlling & Monitoring Systems
Vacuum Systems
Clean-In-Place (CIP) Systems
Drying Chambers
Freeze Drying Trays & Shelves
Manifolds
Other accessories



Freeze Drying Equipment Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Freeze Drying Equipment Market: Key Players
1.Cuddon Engineering Ltd.
2.Freezedry Specialities, Inc.
3.GEA Niro
4.I.M.A. Industria Macchine Automatiche S.p.A.
5.Labconco Corporation
6.SP Scientific
7.Telstar
8.Thermo Fisher Scientific Inc.
9.MechaTech Systems Ltd
10.Shanghai Tofflon Science and Technology Co., Ltd.
11.OPERON
12.Millrock Technology, Inc.
13.LTE Scientific Ltd
14.EYELA
15.Harvest Right
16.Yamato Scientific America Inc.
17.Z-SC1 Corp.
18.Mechatech Systems Ltd.
19.OctoFrost Group
20.USIFROID.
21.Industria Macchine Automatiche S.P.A
22.Tofflon
23.Azbil Telstar SLU
24.Martin Christ Gefriertrocknungsanlagen GmbH
25.OPTIMA Packaging Group GmbH

Frequently Asked Questions

1. What is the projected market size & growth rate of the Freeze Drying Equipment Market?
Ans- The Freeze Drying Equipment Market was valued at USD 1.69 billion in 2022 and is projected to reach USD 2.82 billion by 2029, growing at a CAGR of 7.5% during the forecast period.

2. What is the key driving factor for the growth of the Freeze Drying Equipment Market?
Ans- The growth of the freeze-drying technique has been greatly aided by the pharmaceutical business.

3. Which Region accounted for the largest Freeze Drying Equipment Market share?
Ans- In 2021, Asia Pacific had the largest market share in the global freeze-drying equipment market.

4. What makes Asia Pacific a Lucrative Market for Freeze Drying Equipment Market?
Ans- This is mostly related to the expansion of the food and pharmaceutical industries in the Asia Pacific region.

5. What are the top players operating in the Freeze Drying Equipment Market?
Ans- Cuddon Engineering Ltd., Freezedry Specialities, Inc., GEA Niro, I.M.A. Industria Macchine Automatiche S.p.A., and Labconco Corporation.